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r_yammahi
Apr 12, 2023 1:38 PM

breaking the trend and possible SHORT Short

British Pound/U.S. DollarFXCM

Description

as showing in the chart, the long trend touched the chart 3 times, and at the third one showed weakness. the trend line used to be support but now its resistant. in the book ( technical analysis explained, page 86-89 ) this situation explained that the longest distance ( price to trend line ) will be the same distance when reverse. so, if this happed, I will wait the price to be in 1.213 area to buy.

Comment

the price returned back above the trend line, so the scenario is cancelled

Comment

again, back to the theory and prepare to buy
Comments
r_yammahi
Again, the price followed our theory.. 👏🏼👏🏼👏🏼
NoVa_Hao
fundamentals are showing very strong upside momentum on longer time frames bullish struture is still intact
r_yammahi
@NoVa_Hao, yes, that's why I said that I wait for this correction to buy again
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